Suspending Fuel Tax Would Help Struggling Small Businesses
Andy Markowski, State Director for NFIB, or the National Federation of Independent Business, released the following statement in response to the House passing and in anticipation of the Senate also passing a bill that would suspend the state’s gas tax in Connecticut. The legislation would suspend the state’s 25 cent per gallon gas tax from April 1 through June 30th. The Senate also passed the bill and the governor has signed it into law.
According to the latest NFIB Small Business Optimism Index, 26 percent of small business owners nationwide said inflation is the single most important problem in operating their business, the highest reading since the third quarter of 1981.
“Our small business owners have expressed frustration with Connecticut’s high gas tax time and time again. It is encouraging to see this bi-partisan effort by lawmakers to give our mom-and-pop shops some relief. Most of our small business owners rely on gas daily to run their vehicles and equipment. When fuel prices go up, their costs go up and ultimately, the people who suffer are Connecticut consumers who will have to pay more for goods and services. Suspending the gas tax will not only benefit small business owners, but every single consumer here in Connecticut,” said Andy Markowski, NFIB State Director in Connecticut.
NFIB is now calling on the Senate to follow the House and the governor to sign this sensible legislation to help small businesses recover during this critical time.
Small employers are already facing painful economic headwinds – record inflation, skyrocketing energy costs, labor shortages, supply chain disruptions – and many have not fully recovered from the COVID-19 pandemic. According to the most recent NFIB Small Business Recovery Survey:
- 67% are experiencing staffing shortages
- 77% have lost sales due to staffing shortages
- 27% say staffing shortages are worse than 3 months ago (only 6% say better)
The legislation also gives an additional sales tax holiday on clothing and footwear for one week in April.
“Our small business owners welcome any legislation that will help spur economic activity. The data is clear: if the legislature doesn’t act to help our entrepreneurs in Connecticut, many more will likely have to shutter their doors for good.”